At a time when the housing crisis and access to credit for home-buying is a key talking point and a priority for Government, Ms Phelan said that concentrating on making convenient accommodation available to people is more important.

"Ireland Inc needs to get over the idea," she said.

Ms Phelan was speaking at the latest Dublin Chamber of Commerce Dublin 2050 breakfast event, which is examining how Dublin will look in 34 years' time.

She went on to clarify that she was "talking about Dublin 2050".

"In Dublin 2050, we have to keep looking forward," she said. "We have a number of challenges - infrastructure, housing…all of these need to be thought through with planning, politicians and with industry.

"When we're bringing businesses into Ireland, we have to think of the aftercare, [that's] the key thing to think about."